AREA WATCH - GHAZIABAD PROSPERS ALONG NH-24

Created on 30.07.2015 23:04:53

The realty market grows leaps and bounds in Ghaziabad

The fast pace infrastructure development taking place across Ghaziabad, especially in areas like Kaushambi, Vasundhara, Vaishali, Indirapuram, Raj Nagar Extension, Mohan Nagar, NH-24, NH-58, have opened up the prospects of real estate development in residential, commercial and retail sectors.Ghaziabad is a dynamic market and with the progress made in the real estate sector, residents of all classes are swarming here to be a part of the city's fast paced growth. Proximity to Delhi and easy connectivity with other parts of Delhi NCR coupled with affordable housing options have played an instrumental role in attracting investors and end users to this place. In fact, Ghaziabad is the most feasible option for those working in Noida and Delhi, but due to higher rentals and exorbitant property prices, this group of people cannot afford to stay there.

Its strategic location and the transport corridors like state and national highways ensure that it is easily connected to the rest of Delhi NCR. The city is connected with two national highways namely NH58 and NH-24 which provide direct connectiv ity to the neighbouring states. NH-24 gained prominence with the launch of Crossings Republik where many developers came togeth er to provide affordable houses and thereby cater to the large housing needs of the region.NH 24 being the life line of Ghaziabad, the UP government and GDA had joined hands to develop the entire stretch and revive the infrastructure around it. The first step towards this development is to convert the Delhi border Dasna stretch by widening it into an eightlane corridor. The widening of the 20-km corri dor, which is used by over 2 lakh vehicles on a weekday, will bring relief to commuters who often get caught in long jams. Commuters have happily welcomed this proposal as they will have a smooth toll-free drive. People living in Ghaziabad have to travel to Delhi for work and studies. And this is the only corridor that provides connectivity between these colonies and Central and South Delhi.

For more than a decade, Ghaziabad's NH-24 has attracted unmatched attention when it comes to real estate buying. Real estate near NH24 enjoys not only the connectivity with the Highway, but also the fact that it is near Delhi. It presents hordes of options to the real estate buyers and investors in the form of apartments and townships.

Thanks to equal attention it got from the buyerinvestors and developers, the areas surrounding the Highway has seen very good appreciation in the last one decade. Kaushambi, Vasundhra and Indirapuram are the areas near NH-24 where if one has visited in 2003 could never imagine that these areas could turn out so well. The colonies that developed along this route are Indi rapuram, Vaishali, Vasundhara, Vijay Nagar, Kaushambi and Sector-62 (Noida). As people realised that these are the best places for people working in Noida or for people studying in colleges of Delhi and Noida, the acceptance took a frenzied turn.

Sunil Jindal, CEO, SVP Builders India Ltd., says, “Real estate development along corridors, has become a trend and has a lot of potential across India. Transport corridors like national highways and state highways across India have witnessed significant real estate development during the real estate boom. The government has also helped in boosting and promoting the industrialisation in these areas.Combination of production units, public utilities, logistics, environmental protection facilities, residential areas, social infrastructure, administrative services and few industrial areas, has been systematically planned along the corridor.These have further helped and accelerated economic growth.“

Since the work is happening in a planned manner, demand for residential real estate will become intrinsic in cities along the corridor.

“NCR has other connectivity routes that will make up for the present chaotic situation.One road is developed to connect NCR to Noida and another one will take the people to NH-24 by cutting all the traffic chaos. However, with the widening of NH-24 the township will gain more prominence,“ says Vikas Sahani, CMD, Property Guru.

The NH-24 belt in Ghaziabad is a preferred real estate destination considering the connectivity and with the proposed NH-24 widening real estate seems all set to boom here in the days to come.